PSX poised to cross 72,000 points mark once again after turbulent week

KARACHI: Last week, the Pakistan’s Stock Exchange (PSX) witnessed a turbulent week following its soaring to record heights, as investors engaged in profit-taking amidst the State Bank of Pakistan’s (SBP) decision to maintain its policy rate for the next six weeks.

Today, the benchmark KSE-100 index opens at Friday’s closing of 71,902.09 points. After steep fluctuations witnessed during the last week, the current week is likely to bring some much needed stability.

Stock market weekly round-up

The index closed less than a 100 points shy of 72,000 points mark, and it is expected that the stock market will, once again, jump over this limit today.

Slowdown in Consumer Price Index (CPI)-based inflation, stability in foreign currency reserves and the potential investment from Saudi Arabia are likely to extend support to the investor sentiment in the current week as well.